Indigo Paints
Stock is in continuous downtrend since listing. Stock made high near 3330 on NSE on 3rd Feb 2021 and now its trading at 1622, stock made 52 week low at 1438 last month. Stock is still not looking good and last hope is 1550. If fails to hold 1550, not only stock will retest recent lows but possibilities of fresh lows are also there. Stock below 1550-1435 can attract fresh selling pressure with downside risk of 20-30% as there is no relief from higher input cost due to higher crude oil prices. Longs are advisable on dips or only if stock holds 1600 and trades above 1750 in coming days.
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Kaya Ltd.
Stock was in downtrend for last six months and have completed 50% Fibonacci Retracement of its rally from 94 to 575. Later on, stock got support and also made higher low recently. As per chart study stock looks poised towards 415-440 in short term and if sustains above 440, targets will be 500 in medium term. Have a look at chart
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Devyani International
Stock is consolidating in a tight range for last few days where 175-77 is working as major hurdle while 165-68 is working as major support on daily/hourly charts. For any big move we need a clear breakout either side. We expect stock to test 182-85 to 193-97 on sustaining above 175 while 152-50 below 165.
Rallis India
Stock is in uptrend for last few days and if continue to hold 280-270 we can see more upside in coming days. One can add above 285 and on dips for targets of 300-315 to 350-80 in short to medium term, stoploss can be placed at 270. On daily charts crossover of 20dMA over 50dMA is also visible, currently stock is trading above all major MAs(50, 100 and 200dMA).
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